Elon Musk becomes the first person to achieve a net worth of $400 billion.

Elon Musk, whose wealth and influence have soared since Donald Trump’s election win, is the first person to reach a net worth of $400 billion. As the CEO of Tesla, Musk was already the richest person in the world. According to the Bloomberg Billionaires Index, his fortune has increased by 77% since the November election, reaching $447 billion. This is more than the combined wealth of Jeff Bezos and Bill Gates.

At 53 years old, Elon Musk saw a one-day increase of $62.8 billion, partly due to a sale of insider shares in SpaceX, which is now valued at around $350 billion. The stock price of Tesla, which makes up most of his wealth, also hit a record high. Bloomberg says that Elon Musk has added about $218 billion to his net worth in 2024 alone.

Aside from his financial success, Elon Musk has become a major figure in politics. He spent over $100 million to encourage people to vote for Trump and used his social media platform X to help with this effort. Musk has developed a close relationship with Trump and is expected to play an important role in the new administration, co-leading the Department of Government Efficiency. Although Musk won’t be working directly in the government, he will have direct access to the White House and influence over policies that affect his six companies, including Tesla and SpaceX, which have received billions in government contracts.

Recently, a Delaware judge ruled against Musk’s 2018 pay package at Tesla, which was worth over $100 billion, for the second time. However, Tesla plans to appeal the decision.